Key Points
- Director John Mckenzie sold 9,700 shares at an average price of $29.29, for proceeds of approximately $284,113.
- Northeast Community Bancorp reported quarterly EPS of $0.79, below the $0.82 analyst estimate, and revenue of $25.91 million versus expectations of $27.96 million.
- The company announced a quarterly dividend of $0.25 per share, equivalent to a 3.4% annualized yield; analysts’ consensus rating is Buy with a $30.25 price target.
Northeast Community Bancorp Inc. (NASDAQ:NECB - Get Free Report) Director John Mckenzie sold 9,700 shares of the company's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $29.29, for a total transaction of $284,113.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Northeast Community Bancorp Stock Down 0.6%
Shares of NASDAQ:NECB opened at $29.19 on Wednesday. The stock has a market cap of $401.95 million, a P/E ratio of 9.60 and a beta of 0.37. The firm has a fifty day moving average price of $27.27 and a 200 day moving average price of $25.54. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Northeast Community Bancorp Inc. has a 1-year low of $19.39 and a 1-year high of $29.69.
Northeast Community Bancorp (NASDAQ:NECB - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.03). The business had revenue of $25.91 million for the quarter, compared to analysts' expectations of $27.96 million. Northeast Community Bancorp had a return on equity of 11.55% and a net margin of 27.21%. Sell-side analysts predict that Northeast Community Bancorp Inc. will post 3.24 EPS for the current year.
Northeast Community Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, October 9th. Northeast Community Bancorp's dividend payout ratio is presently 32.89%.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on NECB. Zacks Research raised Northeast Community Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 7th. Weiss Ratings restated a "buy (b)" rating on shares of Northeast Community Bancorp in a research report on Tuesday, September 29th. Finally, Freedom Broker upped their price objective on Northeast Community Bancorp from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $30.25.
Check Out Our Latest Research Report on Northeast Community Bancorp
Hedge Funds Weigh In On Northeast Community Bancorp
Several institutional investors have recently bought and sold shares of NECB. BlackRock Inc. purchased a new position in Northeast Community Bancorp during the 2nd quarter worth $35,060,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Northeast Community Bancorp in the 2nd quarter worth $4,611,000. Empowered Funds LLC acquired a new stake in shares of Northeast Community Bancorp in the 2nd quarter worth $2,690,000. Bank of New York Mellon Corp acquired a new stake in shares of Northeast Community Bancorp in the 2nd quarter worth $1,863,000. Finally, Raffles Associates LP purchased a new stake in shares of Northeast Community Bancorp in the second quarter valued at about $1,651,000. 53.25% of the stock is owned by institutional investors and hedge funds.
Northeast Community Bancorp Company Profile
(
Get Free Report)
Northeast Community Bancorp, Inc is the holding company for Northeast Community Bank, a community-oriented savings bank headquartered in New York. The bank provides retail and commercial banking services to individuals, families, businesses and community organizations through its branch network in New York and New Jersey.
Northeast Community Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and multifamily real estate loans, commercial real estate financing, construction loans, home equity products and other loans for businesses and consumers.
The company emphasizes relationship-based banking and focuses on serving local markets, including communities in the New York metropolitan area and surrounding regions.
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